Who benefits from McDonald's 'lost direction'?

Many fast food chains are benefiting as McDonald's copes with its turnaround strategy, said Wunderlich Securities senior restaurant analyst Bob Derrington on Tuesday.

"Clearly there is a lot of market share that has drifted to a lot of the competitors, and at the end of the day for these restaurant chains it's got to come down to cravable food," he told CNBC's "Power Lunch."

Nicole Miller Regan, a senior research analyst at Piper Jaffray, said there is another element to consider. "I think those that have benefited are ahead in technology," she said. "Those that prove you can nearly eat online and that could even include Starbucks."

She also mentioned that Burger King, Sonic and Popeyes are benefiting, too.